Brigade Enterprises Q1 profits down 53%

BANGALORE: Brigade Enterprises Limited profits are lower by 53.61 per cent at Rs 6.67 crore on standalone basis for the first quarter (Q1) of financial year 2013-14 as compared with Rs 14.38 crore in the same period last year.

The company’s income from operations is higher 11.98 per cent to Rs 155.20 crore as compared with Rs 138.59 crore in the same quarter last year.

EPS of the company stood at 59 paise as compared to Rs 1.28 recorded last year.

BANGALORE/MUMBAI: Global investors are once again warming up to India's real estate and have raised nearly $2 billion (Rs 11,854 crore) in the past year despite the economic uncertainties and the scepticism surrounding this sector.

BANGALORE: Air India's plan to monetise real estate worth Rs 5,000 crore has failed to take off because the state-run carrier has been unable to locate the ownership documents of most of the properties it has shortlisted for sale. "Transactions are getting delayed because the ownership documents for a large number of properties that are expected to be monetised are missing," a person with direct knowledge of the matter told ET.

BANGALORE: Capital gains arise when a house is sold. Capital gains tax is leviable on the sale or transfer of a house. It is computed on the indexed cost of the house sold. This cost is deducted from the amount received by the seller. The indexed cost is computed according to the indexation rates notified by the Income Tax Department for each year.

BANGALORE: With the city extending towards new peripheries, residential development has also grown to accommodate the requirements of a burgeoning working population. As large multinational establishments are finding spaces in far-flung localities, the demand for housing in these belts has picked up. Reasonable cost of land has led to the emergence of the affordable or budget housing segment to cater to a younger, first time buyer profile coming to the city.

BANGALORE: The official cost of land is set to go up 40% in Bangalore, with the government announcing new guidance values, which will be revised every year. The revenue flow will be used to fund the government’s populist schemes.

BANGALORE: A big industrialist who is trying to establish a thermal power plant in north Karnataka says that after numerous personal visits to the area over two-three years, he has managed to get consent from farmers to acquire about 150 acres.

BANGALORE: Karnataka government has decided to set up a land evaluation committee to advise government on the revision of the guidelines value ((official cost of land). Based on its recommendations, the state plans to revise guidelines value every year from now.

BANGALORE: The Karnataka Government expects additional revenue of Rs 840 crore following upward revision of guidance value of properties, including Rs 614 crore in Bangalore urban district, by way of increase in registration fee and stamp duty.

BANGALORE: Karnataka plans to raise a loan of Rs 1,000 crore to acquire land for the Information Technology Investment Region (ITIR) project. The project is to come up near theKempeGowda International Airport.